MIRA INFORM REPORT

Report Date :

28.12.2011

IDENTIFICATION DETAILS

Name :	ELEN BLOSSOMS AND GREENS LIMITED
Registered Office :	H – 58, Amain Vikas Marg, Laxmi Nagar, New Delhi – 110092
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	26.06.2000
Com. Reg. No.:	55-106480
Capital Investment / Paid-up Capital :	Rs.2.993 Millions
CIN No.: [Company Identification No.]	U74899DL2000PLC106480
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of Artificial Flowers, Decorative Flowers, etc.
No. of Employees :	110 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (29)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 12000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Profitability of the company appears to be low. However, trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with slight caution.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INFORMATION PARTED BY

Name :	Ms. Shweta Sharma
Designation :	Head Sales
Contact No.:	91-11-43317741
Date :	16.12.2011

LOCATIONS

Registered Office :	H – 58, Amain Vikas Marg, Laxmi Nagar, New Delhi – 110092, India
Tel. No.:	Not Available
Mobile No.:	91-9873435334 (Ms. Shweta Sharma)
Fax No.:	Not Available
E-Mail :	sales@elen.in elengreens@gmail.com roc@ncraj.com p@vsnl.com
Website :	www.elen.in
Location :	Rented
Corporate Office :	35, Link Road, Lajpat Nagar-III, New Delhi – 110024, India
Factory :	19, Milestone, Tushan (R), Hissan (Haryana), India
Marketing Office :	Plot No. 75 and 76, Patparganj Industrial Area, Delhi – 110092, India
Tel. No.:	91-11-43317741

DIRECTORS

As on 30.09.2011

Name :

Mr. Pankaj Gupta

Designation :

Director

Address :

405, Uday Giri Towers, Kaushambi, Ghaziabad – 201010, Uttar Pradesh, India

Date of Birth/Age :

11.06.1969

Date of Appointment :

26.06.2000

DIN No.:

01161699

Other Directorship :

CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
U74899DL2000PLC106480	Elen Blossoms and Greens Limited	Director	26/06/2000	26/06/2000	-	Active	NO
U20293DL2010PTC199751	Evergreen Bamboo India Private Limited	Director	5/03/2010	5/03/2010	-	Active	NO

Name :

Mr. Bipin Singh

Designation :

Director

Address :

Laxmi Niwas, A – 5/52, Vishal Khand, Gomti Nagar, New Delhi – 226001, India

Date of Birth/Age :

02.01.1965

Date of Appointment :

26.06.2006

DIN No.:

02054220

Other Directorship :

CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
U74899DL2000PLC106480	Elen Blossoms and Greens Limited	Director	26/06/2006	26/06/2006	-	Active	NO
U20293DL2010PTC199751	Evergreen Bamboo India Private Limited	Director	1/07/2010	1/07/2010	-	Active	NO

Name :

Mr. Udai Kumar Maheshwari

Designation :

Director

Address :

56, Gazipur Village, New Delhi – 110096, India

Date of Birth/Age :

01.01.1947

Date of Appointment :

14.02.2005

DIN No.:

02104843

Other Directorship :

CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
U74899DL2000PLC106480	Elen Blossoms and Greens Limited	Director	14/02/2005	14/02/2005	-	Active	NO
U20293DL2010PTC199751	Evergreen Bamboo India Private Limited	Director	5/03/2010	5/03/2010	-	Active	NO

KEY EXECUTIVES

Name :	Ms. Shweta Sharma
Designation :	Head Sales

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Pankaj Gupta	298700
Shelly Gupta	100
Laxmi Narain Gupta	100
Arvind Maheshwari	100
Vijay Laxmi	100
Uday Kumar Maheshwari	100
Pushpa Rani Gupta	100
Total	299300

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Importer of Artificial Flowers, Decorative Flowers, etc.
Products :	Reseller of Artificial/ Silk Flowers, Plants and Greens
Exports :
Products :	Artificial Flower
Imports :
Products :	Artificial Flower
Terms :
Selling :	Cash/ Credit
Purchasing :	Cash/ Credit

GENERAL INFORMATION

Suppliers :

· Asian Exports

· Gaung Dong Hangyang Flower Company Limited

· Global Business Enterprises

· Kingent Enterprises Limited

· Vantage World Limited

· YIWU Kingstar Import and Exports Company Limited

Customers :

Others

No. of Employees :

110 (Approximately)

Bankers :

ICICI Bank Limited

Indusland Bank Limited

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Secured Loans	0.000	0.352
Total	0.000	0.352
Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Pankaj Gupta	0.366	3.818
Total	0.366	3.818

Banking Relations :	--
Auditors :
Name :	N. C. Raj and Associates Chartered Accountants
Address :	10, Community Centre, No. 2, Ashok Vihar, Phase – II, New Delhi – 110052, India
Tel. No.:	91-11-45172000/99
E-Mail :	ncr@ncraj.com
PAN.:	AADFN1890Q

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
300000	Equity Shares	Rs.10/- each	Rs.3.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
299300	Equity Shares	Rs.10/- each	Rs.2.993 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		2.993	2.993	2.993
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.226	0.212	0.252
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		3.219	3.205	3.245
LOAN FUNDS
1] Secured Loans		0.000	0.352	5.138
2] Unsecured Loans		0.366	3.818	3.553
TOTAL BORROWING		0.366	4.170	8.691
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		3.585	7.375	11.936
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.935	1.245	1.660
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.277	0.265	0.263
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1.302	5.024	0.246
	Sundry Debtors	0.390	0.997	0.919
	Cash & Bank Balances	0.045	0.362	0.085
	Other Current Assets	0.000	0.954	9.486
	Deposits, Loans & Advances	8.304	8.211	9.681
Total Current Assets		10.041	15.548	20.417
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	6.261	6.786	8.238
	Other Current Liabilities	1.390	2.881	2.166
	Provisions	0.017	0.016	0.000
Total Current Liabilities		7.668	9.683	10.404
Net Current Assets		2.373	5.865	10.013
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		3.585	7.375	11.936

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	10.528	9.033	11.700
		Other Income	0.006	0.005	0.254
		TOTAL (A)	10.534	9.038	11.954
Less	EXPENSES
		Cost of Goods Sold	8.210	6.806	9.126
		Advertisement Expenses	0.081	0.039	0.030
		Audit Fees	0.039	0.039	0.039
		Directors Remuneration	0.600	0.366	0.396
		Electricity Expenses	0.004	0.026	0.063
		Telephone Expenses	0.139	0.151	0.128
		Salary and Wages	0.343	0.259	0.333
		Exhibition Expenses	0.000	0.224	0.240
		Printing and Stationery	0.001	0.006	0.009
		P. F Employer Contribution	0.035	0.028	0.024
		Rent	0.180	0.132	0.071
		Other Expenses	0.493	0.390	0.297
		TOTAL (B)	10.125	8.466	10.756
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		0.409	0.572	1.198
Less	FINANCIAL EXPENSES (D)		0.014	0.182	0.708
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		0.395	0.390	0.490
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.310	0.415	0.559
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		0.085	(0.025)	(0.069)
Less	TAX (H)		0.072	0.015	0.023
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		0.013	(0.040)	(0.092)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.212	0.252	NA
	BALANCE CARRIED TO THE B/S		0.225	0.212	NA
	Earnings/ (Loss) Per Share (Rs.)		0.28	0.13	0.31

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.12	0.44	0.76
Net Profit Margin (PBT/Sales)	(%)	0.81	(0.28)	(0.58)
Return on Total Assets (PBT/Total Assets}	(%)	0.77	(0.15)	(0.31)
Return on Investment (ROI) (PBT/Networth)		0.03	(0.01)	(0.02)
Debt Equity Ratio (Total Liability/Networth)		2.49	4.32	5.88
Current Ratio (Current Asset/Current Liability)		1.31	1.61	1.96

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report (Yes / No)
1) Year of Establishment	Yes
2) Locality of the firm	Yes
3) Constitutions of the firm	Yes
4) Premises details	Yes
5) Type of Business	Yes
6) Line of Business	Yes
7) Promoter’s background	--
8) No. of employees	Yes
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last three years	No
12) Profitability for last three years	No
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	No
15) Capital in the business	No
16) Details of sister concerns	No
17) Major suppliers	No
18) Major customers	No
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
21) Market information	--
22) Litigations that the firm / promoter	--
23) Banking Details	No
24) Banking facility details	No
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	No
28) Incorporation details, if applicable	--
29) Last accounts filed at ROC	--
30) Major Shareholders, if available	--

FIXED ASSETS

· Air Condition

· Car

· Computer

· Furniture and Fixtures

· Generator

· Office Equipment

· Water Filter

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.52.89
UK Pound	1	Rs.82.71
Euro	1	Rs.69.15

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		29

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.